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Determine if the income of the readers

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A magazine claims that its readers have an average annual income of $43,725 with a standard deviation of $3,856. You randomly sample on 27 of the magazine's readers and an average income of $38,251. Determine if the income of the readers is significantly less than the income claimed by the company using a = 0.01 and the prob-value approach.

Reference no: EM132286330

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